#United States #Texas #Uranium Energy Corp #Burke Hollow #ISR Uranium Mine

Uranium Energy Corp Launches Production at Burke Hollow

Uranium Energy Corp (UEC), listed on NYSE American as UEC, has recently commenced production at its Burke Hollow project, earning the title of the newest operating in-situ recovery (ISR) uranium mine globally. This significant achievement follows the company's approval from the Texas Commission on Environmental Quality and marks the first new ISR uranium operation in the United States in over ten years.

Background of Burke Hollow

The Burke Hollow project spans approximately 20,000 acres in South Texas and is celebrated for being the largest ISR uranium discovery within the U.S. in the last decade. Despite exploration covering only about half of this expansive property, the site holds great potential for further development, with multiple mineralized trends and horizons identified, allowing UEC to adopt a phased approach for future resource expansion.

The production at Burke Hollow signifies UEC's ongoing commitment to scaling its operations within the U.S. uranium sector. With the recent capacity expansion at Christensen Ranch in Wyoming and a forward-looking strategy that includes launching the Ludeman ISR project by 2027, UEC is on a path to solidifying its footprint in the uranium market.

Leadership and Future Vision

The company's President and CEO, Amir Adnani, expressed pride in reaching this pivotal milestone, stating, "The startup of Burke Hollow is a significant achievement for UEC, advancing the project from a grassroots discovery in 2012 to production in 2026." This is not just a win for UEC; it also plays a role in enhancing domestic capabilities for nuclear fuel supply, stimulating interest in U.S. uranium production within broader energy strategies.

Chris Wright, the U.S. Secretary of Energy, echoed this sentiment, highlighting the importance of consistent uranium production as a foundation for a reliable domestic nuclear fuel cycle, essential for American energy security. Texas Governor Greg Abbott also praised the project, affirming that it would fortify America’s nuclear fuel cycle and underscore Texas's position as a global leader in energy production.

Production Details

Uranium extracted at Burke Hollow will be processed at the Hobson Central Processing Plant, which holds a license for production capacity of up to 4 million pounds of uranium each year. The strategic positioning of this facility facilitates efficient processing of uranium from Burke Hollow, aligning UEC's production capabilities with market demands and governmental support for nuclear energy.

Craig Wall, UEC's Vice President of Environmental, Health, and Safety, emphasized the collaborative effort between UEC and TCEQ, reinforcing confidence in the company's operational and technical executions throughout the permitting and development processes.

About Uranium Energy Corp

As America’s largest and fastest-growing uranium company, Uranium Energy Corp controls vast uranium resources and boasts significant licensed production capacity within the U.S., totaling approximately 12 million pounds per year across its operations in Wyoming and South Texas. Furthermore, UEC is developing its capabilities in uranium refining and conversion through its subsidiary, enhancing the robustness of the U.S. nuclear fuel supply chain while maintaining a 100% unhedged strategy to benefit from dynamic market conditions.

In summary, the commencement of production at Burke Hollow signals a forward-thinking approach for Uranium Energy Corp, leveraging local resources to contribute to a sustainable energy future for the U.S. and reinforcing the nation’s energy security.

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